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The Price Advantage

ISBN: 978-0-471-69002-3
304 pages
April 2004
The Price Advantage (0471690023) cover image

Description

The Price Advantage by three preeminent experts at McKinsey & Company is the most pragmatic and insightful book on pricing available. Based on in-depth, first-hand experience with hundreds of companies, this book is designed to provide managers with comprehensive guidance through the maze of pricing issues. The authors demonstrate why pricing excellence is critical to corporate success and profitability, then explain state-of-the-art approaches to analyzing and improving your own pricing strategy for any product or service. Their advice is critical for readers who need to develop pricing strategies that work in both good economic times and bad.
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Table of Contents

Preface.

Acknowledgments.

PART ONE: PRICING FUNDAMENTALS.

Chapter 1. Introduction.

Chapter 2. The Three Levels of Price Management.

PART TWO: EXPLORING THE LEVELS.

Chapter 3. Transaction.

Chapter 4. Product/Market Strategy.

Chapter 5. Industry Strategy.

PART THREE: SPECIAL TOPICS.

Chapter 6. New Product Pricing.

Chapter 7. Solutions, Bundles, and Other Packaged Offerings.

PART FOUR: UNIQUE EVENTS.

Chapter 8. Postmerger Pricing.

Chapter 9. Price Wars.

PART FIVE: EXPANDING THE BOUNDARIES.

Chapter 10. Technology-Enabled Pricing.

Chapter 11. Legal Issues.

PART SIX: BRINGING IT TOGETHER.

Chapter 12. Pricing Architecture.

Chapter 13. Driving Pricing Change.

Chapter 14. The Monarch Battery Case.

Chapter 15. Epilogue.

Appendix 1: Sample Pocket Price and Pocket Margin Waterfalls.

Appendix 2: Antitrust Issues.

Appendix 3: List of Acronyms.

About the Authors.

Index.

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Author Information

MICHAEL V. MARN is a partner in the Cleveland office of the international consulting firm of McKinsey & Company. He joined McKinsey in 1977, and has developed some of the most widely used analytic approaches for identifying and capturing opportunities in pricing. He has written articles on pricing that have appeared in publications including the Wall Street Journal, the New York Times, and the Harvard Business Review.

ERIC V. ROEGNER is a partner in the Cleveland office of McKinsey & Company. Since joining McKinsey in 1994, he has served clients in all major markets on a wide range of pricing and marketing issues. In addition, he has published several articles on pricing and marketing strategy in journals including Marketing Management, the OESA Journal, and The McKinsey Quarterly.

CRAIG C. ZAWADA is a partner in the Pittsburgh office of McKinsey & Company. Since joining McKinsey in 1997, he has worked with companies across a wide range of industries, helping them to identify and capture improvements in pricing. He is widely published in the area of pricing strategy, with articles appearing in the Harvard Busin ess Review, Mergers and Acquisitions, and The McKinsey Quarterly.

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The Wiley Advantage

1.Getting transaction pricing right is one of the keys to surviving the current downturn and to flourishing when the economic upturn arrives. Yet few companies are as discipline and scientific about pricing as they should be. This book shows them how to achieve a pricing advantage, from the preeminent consulting firm in the field. 
2. FRANCHISE BUILDING TOOLS. Book/workbook demonstrate simply transactional pricing tools such as McKinsey's own "pocket price waterfall." The waterfall demonstrates how companies can lose money within a series of transactions, or exploit opportunities at each step along the transaction pricing chain. Application of pocket price waterfall is now being applied to very complex pricing problems posed by competitive dynamics existing in every major industry, including Web-based businesses.
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